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EVA; earthquake monasteries reconstruction project

Short answer

Using uniform 20% planned progress, PV=1400.58, EV=1664.70, AC=1396.20 Rs million; SV=264.12, CV=268.50, SPI=1.189, CPI=1.192. The project is ahead of schedule and under budget, with EAC=5873.40 Rs million and forecast duration 25.2 months.

Perform EVA on the basis of the following given information of the "Earthquake Affected Monasteries Reconstruction Project" (EMRP), which was monitored after 6 months of its implementation. State controlling statements on the basis of your evaluation.

Description (Budget/Plan)Standard informationDescription (monitored)Monitored progress (completed)
1. Number of monasteries to be reconstructed753 units1. Reconstructed monasteries179 units
2. Reconstruction project to be completed in30 months2. Average expended reconstruction cost per unitRs 7.8 millions
3. Average reconstruction cost per unitRs 9.3 millions

EVA is carried out in Rs million. Planned progress is taken as uniform over 30 months.

Data

  • BAC = 753 x 9.3 = Rs 7,002.90 million
  • Planned progress after 6 months = 6/30 = 20 %
  • Completed = 179 units; actual average cost = Rs 7.8 million/unit
PV=0.20×7,002.90=1,400.58EV=179×9.3=1,664.70AC=179×7.8=1,396.20\begin{aligned} PV &= 0.20 \times 7{,}002.90 = 1{,}400.58\\ EV &= 179 \times 9.3 = 1{,}664.70\\ AC &= 179 \times 7.8 = 1{,}396.20 \end{aligned}

(All values are in Rs million; planned units after 6 months = 150.6, completed = 179.)

Calculation

SV=EV−PV=1,664.70−1,400.58=264.12CV=EV−AC=1,664.70−1,396.20=268.50SPI=EV/PV=1,664.70/1,400.58=1.189CPI=EV/AC=1,664.70/1,396.20=1.192EAC=BAC/CPI=7,002.90/1.1923=5,873.40ETC=EAC−AC=5,873.40−1,396.20=4,477.20VAC=BAC−EAC=7,002.90−5,873.40=1,129.50Forecast duration=30/SPI=30/1.189=25.2 months\begin{aligned} SV &= EV - PV = 1{,}664.70 - 1{,}400.58 = 264.12\\ CV &= EV - AC = 1{,}664.70 - 1{,}396.20 = 268.50\\ SPI &= EV/PV = 1{,}664.70/1{,}400.58 = 1.189\\ CPI &= EV/AC = 1{,}664.70/1{,}396.20 = 1.192\\ EAC &= BAC/CPI = 7{,}002.90/1.1923 = 5{,}873.40\\ ETC &= EAC - AC = 5{,}873.40 - 1{,}396.20 = 4{,}477.20\\ VAC &= BAC - EAC = 7{,}002.90 - 5{,}873.40 = 1{,}129.50\\ \text{Forecast duration} &= 30/SPI = 30/1.189 = 25.2\ \text{months} \end{aligned}

Comment

  • Schedule: SV is positive and SPI = 1.189, so the project is ahead of schedule. The work done is 118.9 % of the planned work (179 units against 150.6 planned). At this rate the project will take about 25.2 months instead of the planned 30 months (about 4.8 months early).
  • Cost: CV is positive and CPI = 1.192, so the project is under budget. Each Rs 1 spent gives Rs 1.19 of work.
  • Forecast: if the present cost trend continues, the final cost will be Rs 5,873.40 million against the budget of Rs 7,002.90 million (variance at completion = Rs 1,129.50 million saving).

Answer: SV = Rs 264.12 million, CV = Rs 268.50 million, SPI = 1.189, CPI = 1.192; the project is ahead of schedule and under budget.

Controlling statements

  • The project is about 18.9 % ahead of schedule, and it earns about 19.2 % more value per rupee than budgeted (actual unit cost Rs 7.8 million against Rs 9.3 million, about 16 % lower). The present work method is good and should be continued.
  • Check that quality and structural (earthquake-resistant) safety have not been reduced to save time and cost.
  • Keep the same crew and material supply, and update the forecast regularly, because later reconstruction in remote hill areas may be harder.
  • Keep the saving as a contingency for price rises and the monsoon.

✓ Answer checked by Claude Opus 5.5 (high effort)

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